What is economics

Question

What is economics

Answer

Economics is a subject matter that deals with the rational management of scarce resources in such manner that an individual gain is maximised at MICRO level and social gain is maximised at MACRO level.

Answer

Economics is a branch of  science that deals with consumption, production and transfer of wealth .

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ECONOMICS is a supply of scarce resources (goods & resources) to the needy and a desire of efficient use of those scarce resources.

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Economics is the study of human behaviour in situation of scarcity.

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Economics is a social science which studies the way a society chooses to use its limited resources which have alternative uses to produce goods and services and to distribute them among different groups of people.

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Economics is the social science that studies the production, distribution, and consumption of goods and services.

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Economics is a science which deals in scare resource to make each one of use satisfy.

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